This is going to be a positive year for the market, but the growth is going to be slow. The quick resolution to the Iraq war has been a positive and I think people took a lot of encouragement from that, which is why you've seen the run we've had, but the economic news has been mostly mixed.
More Quotes from Michelle Clayman:
I think there are a number of things going on. One is Procter Gamble has done a great deal of restructuring. They're coming back to their core businesses, brands like Tide and Crest, ... They've got rid of a lot of the smaller brands. They've also consolidated some operations. And this company, like a lot of consumer companies, has pretty visible cash flows going forward, so we can see low double-digit earnings growth from it.Michelle Clayman
The run-up is probably due to a number of factors.
Michelle Clayman
Negative pre-announcements are outpacing positive ones by a three-to-one margin -- and that's very high. The big question is whether the market can look through that. We expect consumer confidence will increase and business confidence will start to turn up as well.
Michelle Clayman
GDP numbers could surprise a little to the upside, and that may be why the Fed said what it did, ... Confidence numbers could also be surprising, in light of recent reports.
Michelle Clayman
This is more air coming out of the Internet bubble, coupled with a bit of a flight to safety into the old trusted stocks.
Michelle Clayman
You've clearly got some selling on the news, ... Microsoft wasn't bad at all, but it wasn't as bullish as some people were hoping.
Michelle Clayman
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